September Housing Starts Fell from August, But Rose 6.1% YOY

Washington, DC, October 18, 2017-Privately-owned housing starts in September were at a seasonally adjusted annual rate of 1,127,000. This is 4.7% below the revised August estimate of 1,183,000, but is 6.1% above the September 2016 rate of 1,062,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development announced jointly.

Single-family housing starts in September were at a rate of 829,000; this is 4.6% below the revised August figure of 869,000. The September rate for units in buildings with five units or more was 286,000.

Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,215,000. This is 4.5% below the revised August rate of 1,272,000 and is 4.3% below the September 2016 rate of 1,270,000. Single-family authorizations in September were at a rate of 819,000; this is 2.4% above the revised August figure of 800,000. Authorizations of units in buildings with five units or more were at a rate of 360,000 in September.

Privately-owned housing completions in September were at a seasonally adjusted annual rate of 1,109,000. This is 1.1% above the revised August estimate of 1,097,000 and is 10.3% above the September 2016 rate of 1,005,000. Single-family housing completions in September were at a rate of 781,000; this is 4.6% above the revised August rate of 747,000. The September rate for units in buildings with five units or more was 322,000.